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Yorkshire Building Society has sliced the rates on its two-year fixed rate mortgage from 1.94 per cent to 1.74 per cent for a 40 per cent deposit and from 2.14 per cent to 1.99 per cent for a 25 per cent deposit. Both come with a £975 fee.

The lowest two-year fixed rate on the market is currently 1.58 per cent from West Brom for a 40 per cent deposit. But it comes with a whopping £2,499 fee.